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Boomerang Tube said Monday that its unsecured creditors committee has resolved a dispute with the U.S. trustee over language in the Chapter 11 plan that the bankruptcy watchdog said would violate a U.S. Supreme Court rule that prevents attorneys from ...read more

The U.S. Department of the Treasury’s financial crimes unit on Monday said that the lead shareholders in an Andorran bank that was shut down after it was targeted in a U.S. anti-money laundering action had no basis to sue in American courts because ...read more

Tennessee-based Verso Corp. sought Chapter 11 protection in Delaware on Tuesday, saying it planned to reorganize and trim $2.4 billion in debt from the $3.9 billion in liabilities now carried by the company, which makes printing and specialty paper and ...read more

Federal prosecutors asked a New York judge on Monday to pause a securities fraud suit brought by the U.S. Securities and Exchange Commission against ex-CEO Martin Shkreli, saying the litigation should be put on the back burner while the criminal case ...read more

Relativity Media and its creditors said Tuesday in New York bankruptcy court that they have settled a dispute with major lender Manchester Securities in a deal that clears the way for the investment firm to assert a $137 million unsecured claim against ...read more

By including expired collective bargaining agreements within the scope of Bankruptcy Code Section 1113 in the Chapter 11 case of Trump Entertainment, the Third Circuit has enabled debtor-employers to reject such agreements and thereby avoid having to ...read more

JPMorgan will pay $1.42 billion to settle most of Lehman Brothers Holdings Inc.’s suit accusing the bank of making wrongful transactions just before Lehman’s bankruptcy, according to a Monday filing in New York bankruptcy court. ...read more

Santa Fe Gold Corp. told a Delaware bankruptcy judge Monday that it canceled its auction and deemed stalking horse bidder and prepetition lender Waterton Global Value LP the proposed buyer, but must still work out opposition from unsecured creditors over ...read more

Tulsa, Oklahoma-based BlueStone Natural Resources has submitted a top bid of $245 million to purchase bankrupt oil and gas producer Quicksilver Resources’ assets, according to court documents filed Monday in Texas. ...read more

A Florida federal judge on Monday granted bids to toss malpractice litigation against Geoffrey Edelsten’s former attorneys, holding that the Australian ex-doctor’s bankruptcy trustee was vague as to alleged conflicts of interest and failed ...read more

A Delaware bankruptcy judge signed off Friday on a settlement between Energy Future Holdings and aluminum manufacturer Alcoa that resolves a dispute over Texas mines and a smelting facility in a deal that EFH said is worth $300 million to its estate. ...read more

Last year, drugmaker PharmAthene Inc. won a nearly $200 million judgment against rival SIGA Technologies Inc. and was dragged along as SIGA scrambled into bankruptcy. When PharmAthene brought in Proskauer Rose LLP, the firm crafted an unusual deal that ...read more

Relativity Media said Monday that it has secured more than $100 million in new financing to fund its eventual exit from Chapter 11, days after major creditors including Netflix hammered the company’s restructuring plan and raised serious doubts ...read more

A Delaware bankruptcy judge agreed Monday to confirm American Apparel's Chapter 11 plan that hands control of the company to bondholders, rejecting an alternative takeover bid proposed by ousted CEO Dov Charney and backed by investment firm the Hagan ...read more

The bankruptcy trustee for a group of vocational schools filed suit in state court in Dallas Wednesday alleging law firms Williams & Connolly and Duane Morris billed them for attorneys' fees and expenses that “exceeded the bounds of reasonableness ...read more

Quiksilver's unsecured creditors are throwing flags at the sports retailer’s proposed restructuring plan, saying in court papers filed Thursday in Delaware that the strategy would overpay secured lenders while providing only pennies on the dollar ...read more

Creditors of Zucker Goldberg & Ackerman LLC objected Friday to the foreclosure law firm’s request for a longer exclusivity period and more time to confirm its reorganization plan, saying it hasn’t shown good reason for a time extension ...read more

A slew of Relativity Media creditors including Netflix and Viacom filed objections Thursday in New York to the company’s proposed bankruptcy reorganization plan, saying revenue projections were overly optimistic. ...read more

The U.S. government took issue Friday with bankrupt Swift Energy’s proposed $49 million sale of some of its Louisiana oil and gas assets, arguing that it could wind up transferring federal contract rights without first seeking Uncle Sam’s ...read more

The Ninth Circuit refused Friday to allow several owners of bankrupt land developer Empire Land LLC tap an additional $20 million in coverage from National Union to defend against a slew of investor suits alleging Empire principals looted the company ...read more

Former Kentucky Governor Steven L. Beshear has returned to Stites & Harbison PLLC, where he was once a bankruptcy attorney, to focus on issues including health care, economic development and regulatory enforcement, the firm said. ...read more

A Delaware bankruptcy judge on Friday scaled back an order for individual disclosures in a hunt for sources of news leaks about Molycorp Inc.’s $1.9 billion bankruptcy, agreeing with Bloomberg News objections that the original demand raised First ...read more

New research paints an interesting picture of the attributes that facilitate the success of best-in-class general counsel. For one, best-in-class general counsel are 36 percent more likely to cut through bureaucracy. This is an astounding finding given ...read more